Munich ($61/sqft, 6.1% vacancy) and Warsaw ($270/sqft, 11.4% vacancy) compete on different axes: Munich on talent depth and Warsaw on rent and tax.
Munich ($61/sqft, 6.1% vacancy) and Warsaw ($270/sqft, 11.4% vacancy) compete on different axes: Munich on talent depth and Warsaw on rent and tax.
| Metric | Munich | Warsaw |
|---|---|---|
| Region | EMEA | EMEA |
| Country | Germany | Poland |
| Class A rent (USD/sqft/yr) | $61 | $270 |
| Class A rent (local) | 56 EUR | 1080 PLN |
| Vacancy | 6.1% | 11.4% |
| Trend | flat | rising |
| Prime yield | 3.9% | 5.6% |
| Premium flex / seat / month (USD) | $720 | $380 |
| Submarkets covered | 5 | 5 |
| Corporate tax | 33% | 19% |
| Metric | Munich | Warsaw |
|---|---|---|
| Typical term | 5 yrs | 5 yrs |
| Typical rent-free | 3 mos | 6 mos |
| Lease norms | Net leases. 5-10 year terms with break options. Free rent of 3-6 months and TI of €70-€110/sqm typical on a 5-year Class A deal. | Net leases (tenant pays opex, taxes, insurance separately). 5-7 year terms standard. Free rent of 4-9 months and TI of PLN 250-400/sqm typical. |
| Tax note | 15% federal corporate income tax plus 5.5% solidarity surcharge plus Munich trade tax (Gewerbesteuer) of 17.15% for an effective combined rate of about 33%. Munich's trade tax multiplier is one of the highest in Germany. | 19% Polish corporate income tax (CIT). 9% reduced rate for small taxpayers. R&D tax credit available. Estonian-style CIT regime available for SMEs. |
| Metric | Munich | Warsaw |
|---|---|---|
| Talent index (0–100) | 90 | 80 |
| Talent note | Deepest engineering and finance talent pool in Germany. Strong feed from TU München, LMU, and a deep network of Fraunhofer and Max Planck institutes. Cost of living premium versus Berlin and Hamburg is structural. | Deepest tech, banking, and business services talent in Central Europe. Strong feed from University of Warsaw, Warsaw University of Technology, and Warsaw School of Economics. Polish-English bilingual professional base. |
Munich: MVV S-Bahn (8 lines), U-Bahn (8 lines), tram, and bus. Munich Hauptbahnhof anchors regional rail. Munich Airport (MUC) is 35 minutes by S-Bahn from the city center.
Warsaw: Warsaw Metro (M1, M2 lines), tram, and bus. SKM commuter rail. Warsaw Chopin Airport is connected via SKM commuter rail (~25 minutes). Modlin Airport serves low-cost carriers.
Munich is the cheaper Class A market on a USD basis.
Munich has the deeper talent index (90/100 vs 80/100).
Warsaw has the lower headline corporate tax (19% vs 33%). Local incentives can change the effective rate materially.
Munich typical term is 5 years with 3 months free; Warsaw runs 5 years with 6 months free.
Munich: MVV S-Bahn (8 lines), U-Bahn (8 lines), tram, and bus. Munich Hauptbahnhof anchors regional rail. Munich Airport (MUC) is 35 minutes by S-Bahn from the city center. Warsaw: Warsaw Metro (M1, M2 lines), tram, and bus. SKM commuter rail. Warsaw Chopin Airport is connected via SKM commuter rail (~25 minutes). Modlin Airport serves low-cost carriers.
Score Munich, Warsaw and up to two more markets side-by-side on Class A rent, vacancy, talent, corporate tax, and premium flex pricing — all in USD.
Reviewed by Samuel Okafor — EMEA contributing editor. Last updated 2026-04-15. See our methodology and editorial standards.